LATEST ACCOUNTING NEWS
State and Federal COVID-19 support --- January - 2022
Beware section 99B
ATO provides further clarity on DIN process
Unpaid client invoices placing greater pressure on SMEs
10 top global corporations since 1998
Increase in the number of SMSF members
Single Touch Payroll (STP) – Phase 2
ATO reiterates tax system incentives
Our 2021 Advent Calendar.
ATO flags focus areas for combating $33.5bn ‘tax gap’
Business Resources - Grants, Assistance, Resources and more.
Employee Christmas Parties and Gifts – Any FBT?
FBT – Christmas Parties and Taxi Fares
How the best firms are supporting the mental health of their employees
Asian Economies (1960 - 2020)
Making the festive season less taxing
Why more Millennials are turning to SMSFs
Company directors must register - all you need to know
Hardship priority processing of tax refunds
Business valuations: Tips, tricks and traps
Government moves to scrap SG $450 threshold
World's most productive countries
Superannuation changes - Superannuation guarantee (SG)
Unused Super Contributions
Main residence exemption myths and misconceptions
ATO extends COVID-19 relief for SMSFs
Treasury consults on increase to charities financial reporting threshold
Greenhouse gas emission by country since 1880
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Access to more resources and tools than most websites.
Tax Return Mistakes
SMSF advice appetite strong, says ASIC
Taxpayers confused by Scott Morrison’s $1,080 tax refund
Common STP set-up mistakes - ATO
Proposal to hold directors liable for GST set to pierce corporate veil
September 2019 - vital statistics for Australia
Tax Commissioner wants to turn black economy to ‘lighter shade of grey’
Changes to the Private Health Insurance Statement
Up to 9 in 10 ‘other’ expenses adjusted as ATO reveals dodgy claims
Downsizer Super Contribution
Tax payers to receive beefed up tax returns.
10 top global corporations since 1998
Catch-up Contributions
Life Insurance
Community tip-offs trigger ATO visits
Australia at a glance
2019: Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
Small business clients need to be ready for STP by 30 September
Big four firm outlines new financial year checklist for SMSFs
Alert - Online Share Accommodation
ATO flashes warning over $7.2bn car expenses claims
Vital statistics for our great nation.
3 out of 4 tax dob-ins are about business
Tax on compensation received for inappropriate advice
‘Extra care’ crucial in avoiding ATO spotlight this tax time
Community tip-offs trigger ATO visits

Around 700 small businesses in Western Australia are set to receive door knocks from the ATO next month after the agency received intelligence around possible black economy behaviour.



       


 


The ATO is planning to visit around 700 small businesses in Broome, Cable Beach, Derby and Kununurra, Western Australia in August as it looks to tackle black economy behaviour.


ATO assistant commissioner Peter Holt said these towns have been singled out as a result of some tell-tale signs of black economy behaviour.


“Black economy signs that we look out for are things like not being registered for GST or pay as you go withholding, lifestyle and assets far exceeding reported business income, or a lack of merchant payment facilities like EFTPOS,” Mr Holt said.


“We understand that some businesses may not have merchant payment facilities due to individual circumstances. The issue is when businesses are deliberately ‘cash only’ to avoid reporting all their income. By detecting and addressing this behaviour, we’re helping to keep things fair for honest small businesses.


“Another reason we’re heading to Broome, Cable Beach, Derby and Kununurra is because we’ve received intelligence from the community that some businesses aren’t playing by the rules, such as paying their workers cash in hand and keeping them off the books.”


Prior to the visits, local businesses and tax professionals are invited to attend a one-hour information session that will explain the purpose of the visits, what to expect if visited, and how to avoid common mistakes. Single Touch Payroll information sessions will also be offered in both locations.


The industries that are more likely to be visited by the ATO include:


  • Residential building construction
  • Building completion and installation services    
  • Other construction services                    
  • Building cleaning, pest control and gardening services
  • Accommodation                    
  • Automotive repair and maintenance    
  • Cafes, restaurants and takeaway food services
  • Personal care services  

The latest number of towns set for a visit comes after the ATO announced it was planning to visit around 500 businesses in or around Port Macquarie and Wauchope in late July and early August.
 


 


Jotham Lian 
30 July 2019 
accountantsdaily.com.au


 


 




9th-August-2019
 
CPA logo Peter I Price & Associates Pty Ltd
Phone: (07) 3376 3411 |Fax: (07) 3376 8904 | Email: info@peterprice.com.au
15 Loffs Road, Mt Ommaney QLD 4074
Liability limited by a scheme approved under Professional Standards Legislation and other than for the acts or omissions of financial services licenses.